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China Pioneer Pharma Holdings (HKG:1345) Hasn't Managed To Accelerate Its Returns
China Pioneer Pharma Holdings (HKG:1345) Hasn't Managed To Accelerate Its Returns
What are the early trends we should look for to identify a stock that could multiply in value over the long term? Amongst other things, we'll want to see two things; firstly, a growing return on capital employed (ROCE) and secondly, an expansion in the company's amount of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Having said that, from a first glance at China Pioneer Pharma Holdings (HKG:1345) we aren't jumping out of our chairs at how returns are trending, but let's have a deeper look.
Return On Capital Employed (ROCE): What Is It?
If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. To calculate this metric for China Pioneer Pharma Holdings, this is the formula:
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
0.19 = CN¥196m ÷ (CN¥1.3b - CN¥288m) (Based on the trailing twelve months to June 2022).
So, China Pioneer Pharma Holdings has an ROCE of 19%. On its own, that's a standard return, however it's much better than the 10% generated by the Healthcare industry.
See our latest analysis for China Pioneer Pharma Holdings
SEHK:1345 Return on Capital Employed September 30th 2022While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you want to delve into the historical earnings, revenue and cash flow of China Pioneer Pharma Holdings, check out these free graphs here.
How Are Returns Trending?
There hasn't been much to report for China Pioneer Pharma Holdings' returns and its level of capital employed because both metrics have been steady for the past five years. This tells us the company isn't reinvesting in itself, so it's plausible that it's past the growth phase. So unless we see a substantial change at China Pioneer Pharma Holdings in terms of ROCE and additional investments being made, we wouldn't hold our breath on it being a multi-bagger.
On a side note, China Pioneer Pharma Holdings has done well to reduce current liabilities to 22% of total assets over the last five years. This can eliminate some of the risks inherent in the operations because the business has less outstanding obligations to their suppliers and or short-term creditors than they did previously.
The Bottom Line On China Pioneer Pharma Holdings' ROCE
In summary, China Pioneer Pharma Holdings isn't compounding its earnings but is generating stable returns on the same amount of capital employed. And with the stock having returned a mere 15% in the last five years to shareholders, you could argue that they're aware of these lackluster trends. As a result, if you're hunting for a multi-bagger, we think you'd have more luck elsewhere.
One final note, you should learn about the 2 warning signs we've spotted with China Pioneer Pharma Holdings (including 1 which can't be ignored) .
While China Pioneer Pharma Holdings isn't earning the highest return, check out this free list of companies that are earning high returns on equity with solid balance sheets.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
我们应该寻找哪些早期趋势来识别一只可能在长期内成倍增值的股票?在其他方面,我们希望看到两件事;第一,不断增长的退货一是关于已用资本(ROCE),二是公司的金额已动用资本的比例。基本上,这意味着一家公司有盈利的举措,可以继续进行再投资,这是复合机器的一个特点。话虽如此,从第一眼看中国先锋医药控股有限公司(HKG:1345)我们不会因为回报率的趋势而从椅子上跳起来,但让我们更深入地看看。
资本回报率(ROCE):它是什么?
如果你以前没有使用过ROCE,它衡量的是一家公司从业务资本中获得的“回报”(税前利润)。要计算中国先锋医药控股有限公司的这一指标,公式如下:
已动用资本回报率=息税前收益(EBIT)?(总资产-流动负债)
0.19=人民币1.96亿元?(人民币13亿元-人民币2.88亿元)(根据截至2022年6月的往绩12个月计算).
所以,中国先锋医药控股的净资产收益率为19%。就其本身而言,这是一个标准的回报,但它比医疗行业10%的回报率要好得多。
查看我们对中国先锋医药控股公司的最新分析
联交所:1345 2022年9月30日资本回报率虽然过去并不代表未来,但了解一家公司历史上的表现是有帮助的,这就是为什么我们有上面的图表。如果你想深入研究中国先锋医药控股公司的历史收益、收入和现金流,请查看以下内容免费图表在这里。
回报趋势如何?
中国先锋医药控股公司的回报和资本水平一直没有太多可供报告的数据,因为这两个指标在过去五年里一直保持稳定。这告诉我们,该公司没有对自身进行再投资,因此它似乎已经过了增长阶段。因此,除非我们看到中国先锋医药控股在净资产收益率和额外投资方面发生实质性变化,否则我们不会对它是一家多套业务抱有希望。
另外,中国先锋医药控股有限公司在过去五年中将流动负债降至总资产的22%方面做得很好。这可以消除业务中固有的一些风险,因为企业对供应商和/或短期债权人的未偿债务比以前少了。
中国先锋医药控股公司ROCE的底线
总而言之,中国先锋医药控股公司并没有实现盈利的复利,而是用同样数量的资本产生了稳定的回报。过去五年,该公司股票对股东的回报率仅为15%,你可以说,他们意识到了这些低迷的趋势。因此,如果你正在寻找一个多袋子,我们认为你在其他地方会有更多的运气。
最后一个注意事项,您应该了解2个警告标志我们已经看到了中国先锋医药控股公司(包括1家不容忽视的公司)。
尽管中国先锋医药控股并没有获得最高的回报,但看看这个。免费资产负债表稳健、股本回报率高的公司名单。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
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